(Bloomberg) -- Pantera Capital has lost its co-Chief Investment Officer Joey Krug, the latest in a series of leadership changes for the embattled crypto venture capital firm.
The Menlo Park, California-based firm sent out a letter with the announcement to its limited partners on Friday, according to two people familiar with the matter, who did not wish to be identified discussing private information. Crypto news outlet CoinDesk first reported the news. Pantera did not immediately respond to a request for comment.
Pantera has seen multiple executives step down in the past few months, including its chief operating officer, Samir Shah. The firm has been hit hard during the market downturn for digital assets, according to other news reports.
The letter also mentioned the formation of an executive committee that will take on the responsibilities of Krug, who joined Pantera as a partner in 2017, according to the people familiar. The committee consists of Pantera Chief Executive Officer Dan Morehead, partner Paul Veradittakit and President Jasper Lewitton.
Pantera announced two new hires in the letter, naming Katrina Paglia as general counsel and chief compliance officer and Marc Selfon as chief financial officer. Paglia previously worked at Coinbase Global Inc. and stated recently on LinkedIn that she was switching to Pantera. Selfon’s most recent experience is at Apollo Global Management as a managing director.
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